In October 2013 US credit card debt hit a 3 year high. Revolving credit debt has risen to $856.82 billion dollars. This number is expected to increase with holiday shopping that occurs after October. This increase may represents a shift in consumer attitudes, where consumers are now more comfortable carrying a balance on their credit cards. Or it mean they are out of money and back to borrowing all they can to make ends meet. Only time will tell.
http://blogs.wsj.com/economics/2013/12/06/credit-card-debt-hits-three-year-high/
At the end of the government shutdown this year, overall consumer debt increased, suggesting this event also played a factor in the expanded debt. Regardless of the reason, many consumers will not be able to repay this increased debt. If you are unable to repay debts, contact a qualified debt settlement lawyer. A law firm focused on debt settlement can often successfully resolve outstanding debts for far less than the original balance owed.
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